Troy Transfers a Draft by Signing It and Delivering It

question 18

Multiple Choice

Troy transfers a draft by signing it and delivering it to Uma. Troy is

• A) an indorser.
• B) a draft dodger.
• C) a drafter.
• D) a promisor.

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Definitions:

Transportation to Consignees

The costs incurred to transport goods to consignees, who will sell the goods on behalf of the shipping party.

Cost Recovery Method

An accounting technique used to defer the recognition of income until the cash received from a transaction exceeds the costs associated with it.

Realized Gross Profit

The gross profit that is actually earned and recognized on sales transactions, after the cost of goods sold has been deducted.

Cash Collections

The process of gathering and managing the cash from sales, financing, or other sources of revenue for a business.